payroll important questions

1.What is payee?

Ans: This refers both Employees and Non-employees.

2.What is Business Unit?

Ans: An identification code that represent the high level organization of Business Information. We can use a Bus. Unit or represent regional or departmental units with in a larger organization.

3.What is Pay Entity?

Ans: Controlling level with in the system.

Defines the organization making payment to the Payee.

4. What is Setid?

Ans: An identification code that represent a set of control table information or table sets.

5.What is table loading sequence?

Ans: 1. Setting up fundamental HRMS tables.

2. Setting PeopleSoft Human Resource Tables.

3. Setting Tables for PeopleSoft products that are integrated with PeopleSoft Global Payroll.

4. Setting up PeopleSoft Global Payroll core application tables.

6. What is Element?

Ans: This is the smallest component of PeopleSoft Global Payroll, and it is used in defining calculation rules to process Payroll.

Pay items are called as elements using these we build rules that determine what payroll or absence components are calculated on a payee-by-payee basis.

7. What is Process List?

Ans: Determines what elements to be processed during the payrun and order of processing.

Specifies the process in which gross and net pay elements are processed and resolved.

8. What is Payroll Processing?

Ans: 1. Determines which Payee are to be paid for each Payroll run.

2. Running Payroll calculation process.

3. Rerunning the Payroll calculation process, if necessary until you obtain the correct rules.

4. Finalizing the Payroll run.

5. Performed Post Processing functions such as banking, reporting and generating Pay slips.

9. What is Pay Group?

Ans: Logical grouping to quality individual for payment.

10. What is Eligibility Group?

Ans: This is grouping of Element Groups. This indicates the specific element for which a certain Payee population is eligible.

11. What is Element Group?

Ans: This is method of assigning a large number of elements to many eligibility groups with out repeating the elements in each and every Eligibility group.

12. What are Calendars?

Ans: The calendars control who is to be paid and what amount is to be paid and for which time the payment is being made.

13. What is Absence Event?

Ans: The consecutive period of time that Payee is absent for some reason.

14. What is Entitlement?

Ans: The amount of period time-off that a Payee is entitled to take for each category of absence.

15. What is Entitlement Balance?

Ans: The amount of unused Entitlement.